Phase Forward Inc. (NASDAQ: PFWD) is being acquired for $685 million, $17.00 per share cash, by Oracle Corp. (NASDAQ: ORCL)… Oracle announced that it has agreed to acquire the company in a $17.00 per share cash merger. Oracle said that management and employees are expected to join Oracle as part of Oracle’s Health Sciences Global Business unit. The 52-week range is $9.89 to $17.09 was well over $20.00 in 2007 and 2008.

Shares are up 29% at $16.88 on over 8 million shares in the pre-market.